Recently, the company signed a memorandum of cooperation with Ford Motor and PT Vale Indonesia Tbk. Based on the strategic cooperation intention the company has reached with PT Vale Indonesia Tbk earlier, and after thorough and friendly negotiation, the two parties plan to bring in Ford Motor to jointly plan and construct a high pressure acid leaching (HPAL) project. In the meantime, after the project is completed, Huayou Cobalt will supply about 84,000 tons of nickel-equivalent battery material products to Ford Motor each year. Following Volkswagen, another well-known automaker is planning to land in Indonesia, signifying that Indonesian laterite nickel ore is officially recognized by the industry, and that HPAL technology has received industry recognition. More importantly, it highlights the important role played by the Indonesian government, people and resources in promoting global auto electrification.